Help me do excercise 9-12 . Thank you Profit PlanningThe selling price of the company's product is $18.00 per unit. Management expects to collect 57%of sales in the quarter in which the sales are made 30% in the following quarter, and 5% of salesare expected to be uncollectible. The beginning balance of accounts receivable, all of which is ex-pected to be collected in the first quarter, is $70,200.The company expects to start the first quarter with 1.650 units in finished goods inventory.Management desires an ending finished goods inventory in each quarter equal to 15% of the nextquarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is1,850 units.Required:1. Prepare the company's sales budget and schedule of expected cash collections.2. Prepare the company's production budget for the upcoming fiscal year.EXERCISE 9-13 Direct Materials and Direct Labor Budgets [LO4, LO5]The production department of Hareston Company has submitted the following forecast of units tobe produced by quarter for the upcoming fiscal year:1st Quarter2nd Quarter3rd Quarter4th QuarterUnits to be produced..8,0006,0005,0007,000In addition, the beginning raw materials inventory for the first quarter is budgeted to be 1,400 EXERCISE 9-12 Sales and Production Budgets [LO2, LO3]The marketing department of Jessi Corporation has submitted the following sales forecast for theupcoming fiscal year (all sales are on account):1st Quarter2nd Quarter3rd Quarter4th QuarterBudgeted unit sales..11,00012,00014,00013,000

Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…

EXERCISE 9-12 Sales and Production Budgets [LO2, LO3] The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales.. 11,000 12,000 ..... 14,000 13,000

EXERCISE 9-12 Sales and Production Budgets [LO2, LO3] The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales.. 11,000 12,000 ..... 14,000 13,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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